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Responsible Officer Assessments

In recent years, quite a few Ohio businesses have fallen behind in sales tax payments. What many people fail to realize is that the president, CEO or CFO (in other words, the responsible officer of a corporation) may be held personally responsible to collect and send use taxes to the state. A responsible officer can be held personally responsible indefinitely for taxes in arrears.

Specifically, an Ohio statute states that “The officers, employees, or trustees of a corporation or business trust that fails to file returns or reports or pay taxes required to be filed and paid under section 5747.07 of the Revised Code are liable for the unpaid liability of the corporation or trust.”

Corporate Sales Tax Assessment

When a business goes bankrupt, the state issues estimated sales tax bills to the individual owner of the business. Individual owners often believe that it is the company that owes back taxes and therefore that they can ignore the tax due notices. Responsible officers sometimes fail to understand that they have only 60 days to respond to tax assessment notices.

Neglecting to respond to tax due notices can make a responsible officer permanently liable for the allegedly missing taxes. Our law firm provides valuable guidance and assistance to people who may be considered responsible officers in taxation matters. We can help ensure that a responsible officer is protected as fully as possible from further sanctions.